Toronto-Dominion Bank posts lower-than-expected quarterly earnings

TORONTO, Feb 28 (Reuters) - Toronto-Dominion Bank on Thursday reported a lower-than-expected rise in first-quarter earnings hurt by losses at its wholesale banking business due to lower trading revenue and higher expenses.

Canada’s second-biggest lender by market value reported earnings per share, excluding special items, of C$1.57, up from C$1.56 the year before but lower than the C$1.72 expected by analysts according to IBES data from Refinitiv. (Reporting by Matt Scuffham; editing by Jason Neely)